## Russia Opens Cryptocurrency Market: From Restrictions to Regulation

The Central Bank of Russia has just announced a new cryptocurrency regulatory framework, marking a significant turning point in the country's policy towards digital assets. According to a notice sent to the government on December 23, authorities expect to allow the Russian public to trade digital currencies and stablecoins as legitimate investment tools, although their use for domestic payments remains prohibited.

## Two Investor Groups, Different Levels of Freedom

The new regulatory framework divides investors into two categories. The general investor group (who do not meet specific criteria) will gain legal access to cryptocurrencies for the first time but must adhere to strict restrictions:

- Only permitted to purchase a list of highly liquid cryptocurrencies identified by the Central Bank
- Transactions must be conducted through licensed financial service companies
- An annual limit of 300,000 Russian rubles (equivalent to approximately $3,800) per customer on each platform

Conversely, the professional investor group (those with collateral assets or securities exceeding 100 million rubles, or with a minimum annual income of 50 million rubles) will enjoy much greater freedom. They can buy most cryptocurrencies except tokens focused on anonymity or privacy protection, with no volume limits, provided they pass risk assessments.

## Current Financial Infrastructure Will Handle Digital Flows

The Central Bank aims to integrate cryptocurrency activities into the existing financial system. Licensed exchanges, brokers, and asset management firms will manage customer funds under their current licenses. Meanwhile, cryptocurrency custodians and exchange operators will be required to comply with additional risk management requirements.

Internationally, this framework clearly allows Russian residents to purchase cryptocurrencies on foreign exchanges via foreign bank accounts, and transfer their previously acquired crypto balances back to Russia through domestic financial services, provided they report to tax authorities.

## Roadmap: From 2026 to 2027

This regulatory framework will not take effect immediately but follows a clear timeline:

- Before July 1, 2026: Legislators must complete the legal basis
- From July 1, 2027: Unlicensed cryptocurrency service providers will face criminal or administrative liability, similar to penalties for illegal banking activities

## Continuing the Gradual Liberalization Trend

This move continues the gradual liberalization strategy pursued by the Central Bank of Russia. In March 2025, the agency launched a testing regime for the "eligible" investor group. Now, the new framework not only preserves the privileges of this priority group but also opens a lane for a broader retail public, albeit with very specific restrictions and close oversight.

Duma State Financial Market Committee Chair Anatoly Aksakov emphasized on December 15 that cryptocurrencies "will never become currency" in Russia, only serving as investment tools. This commitment reflects the Kremlin's balanced policy of leveraging digital money for national strategic purposes amid international sanctions, while tightly controlling domestic use.

## How Are Bitcoin and Ethereum Priced Now?

Currently, Bitcoin (BTC) trades around $95,450, down 1.30% in the past 24 hours, while Ethereum (ETH) is at $3,310, also down 1.37% over the same period. These price movements indicate that the global cryptocurrency market remains in a correction phase.

## Strategic Significance of the New Policy

This framework reflects Russia's active use of Bitcoin and other digital assets in international trade. The country has also legalized cryptocurrency mining under special regulations. Currently, Russian policymakers are publicly discussing the development of domestic stablecoins to reduce dependence on Western stablecoins like USDT, especially following account freezing incidents related to sanctions.

The new framework does not specify particular tokens but clearly indicates a trend favoring large-cap, highly liquid assets, for both retail and professional investor flows.